AMC Entertainment (NYSE:AMC) Trading 7.7% Higher – Still a Buy?

AMC Entertainment Holdings, Inc. (NYSE:AMC)’s share price traded up 7.7% during mid-day trading on Friday . The company traded as high as $2.05 and last traded at $2.0350. 19,550,531 shares were traded during trading, a decline of 47% from the average daily volume of 36,899,078 shares. The stock had previously closed at $1.89.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on AMC shares. Citigroup boosted their target price on shares of AMC Entertainment from $1.10 to $1.20 and gave the stock a “sell” rating in a report on Thursday, May 7th. Wall Street Zen upgraded AMC Entertainment from a “strong sell” rating to a “hold” rating in a research report on Saturday, May 9th. Roth Mkm set a $1.50 price objective on AMC Entertainment in a research note on Tuesday, May 19th. B. Riley Financial reissued a “buy” rating on shares of AMC Entertainment in a research report on Thursday, June 11th. Finally, Benchmark upgraded AMC Entertainment from a “hold” rating to a “buy” rating and set a $2.50 price target on the stock in a report on Wednesday, May 6th. Three equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $2.24.

AMC Entertainment Stock Up 14.0%

The firm has a market cap of $1.32 billion, a PE ratio of -2.03 and a beta of 2.22. The business has a 50 day simple moving average of $1.82 and a two-hundred day simple moving average of $1.55.

AMC Entertainment (NYSE:AMC) last posted its quarterly earnings results on Tuesday, May 5th. The company reported ($0.36) EPS for the quarter, missing analysts’ consensus estimates of ($0.32) by ($0.04). The firm had revenue of $1.05 billion for the quarter, compared to analysts’ expectations of $979.19 million. The company’s revenue was up 21.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.58) EPS. Equities analysts forecast that AMC Entertainment Holdings, Inc. will post -0.37 earnings per share for the current year.

Insider Transactions at AMC Entertainment

In related news, CEO Adam M. Aron bought 250,000 shares of the company’s stock in a transaction on Tuesday, May 19th. The shares were acquired at an average cost of $1.38 per share, for a total transaction of $345,000.00. Following the purchase, the chief executive officer directly owned 2,437,020 shares of the company’s stock, valued at approximately $3,363,087.60. The trade was a 11.43% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.43% of the stock is currently owned by company insiders.

Institutional Trading of AMC Entertainment

A number of large investors have recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in AMC Entertainment by 21.1% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 240,255 shares of the company’s stock worth $690,000 after purchasing an additional 41,860 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of AMC Entertainment by 30.2% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 710,181 shares of the company’s stock worth $2,038,000 after buying an additional 164,740 shares in the last quarter. JPMorgan Chase & Co. increased its stake in shares of AMC Entertainment by 19.8% during the second quarter. JPMorgan Chase & Co. now owns 1,820,405 shares of the company’s stock valued at $5,643,000 after buying an additional 300,376 shares during the period. Prudential Financial Inc. increased its stake in shares of AMC Entertainment by 89.6% during the second quarter. Prudential Financial Inc. now owns 55,685 shares of the company’s stock valued at $173,000 after buying an additional 26,310 shares during the period. Finally, Hsbc Holdings PLC increased its stake in shares of AMC Entertainment by 9.2% during the second quarter. Hsbc Holdings PLC now owns 102,506 shares of the company’s stock valued at $315,000 after buying an additional 8,629 shares during the period. Hedge funds and other institutional investors own 28.80% of the company’s stock.

AMC Entertainment Company Profile

AMC Entertainment Holdings, Inc operates as a leading movie exhibition company, specializing in the presentation of theatrical motion pictures across a network of multiplex cinemas. The company’s core business activities encompass ticket sales, concession and refreshment services, and the licensing of premium viewing formats. AMC offers a variety of auditorium experiences, including IMAX®, Dolby Cinema™, and Cinemark’s RealD 3D systems, designed to enhance audience engagement through superior sound, visual clarity, and seating comfort.

Originally founded in 1920 with its first theatre in Kansas City, AMC has evolved into one of the largest theater chains in the world.